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US Corn Drought Will Push On Prices: Expert

Monday, 16 Jul 2012 | 2:10 AM ET

"1000 counties in the US are being declared as natural disasters, it is the worst natural disaster the US has had in history, we are seeing levels of drought that we haven't seen since 1988, so the corn is not growing, and the US is one of the biggest suppliers so we will see the push on prices," Erkut Ozer, CEO of Global Trading Enterprises, told CNBC.